European Bank Regulator
Could Stimulate Mergers

Cross-border competition among Europe's banks isn't likely to begin in earnest until the region has a single regulatory body, industry experts say.

The euro's arrival in January kicked off a wave of mergers in the industry, but so far they have been limited primarily to banks within individual countries. The tussle for national primacy is most visible in the bitter, seven-month-old takeover battle among three of France's largest banks, Banque Nationale de Paris SA, Societe Generale SA and Paribas SA. The similar business...